Tight liquidity supports Kenyan shilling

NAIROBI: The Kenyan shilling was stable on Wednesday, with tight liquidity in the market making it slightly more expensive to hold dollars, traders said.

At 1103 GMT, commercial banks quoted the shilling at 100.95/101.15 per dollar, compared with 101.00/20 at Tuesday's close.

The weighted average interest rate on the overnight lending market for banks rose to 6.2448 percent on Tuesday, from 6.0697 percent on Thursday last week.